Friday, November 17, 2017

Tahoe completes acquisition of Dah Sing Insurance

Tahoe Investment Group has completed its acquisition of Hong Kong Dah Sing Life Assurance and Dah Sing Insurance Services (collectively Dah Sing Life).

The terms include the acquisition of Dah Sing Life and Macau Life Insurance, as well as the bancassurance deals for exclusive 15-year partnerships with Dah Sing Bank and Banco Comercial de Macau, which is subject to regulatory approval in Macau.

The transaction was valued at HK$10.6 billion (US$1.36 billion). As a comprehensive insurance company, Dah Sing Life will maintain its services after the acquisition to provide diverse and premium products, including life insurance services, savings protection plans, health and medical protection plans and investment-linked assurance schemes.

Tahoe Investment also announced the appointment of Paula Wai-Yee Choi, who has previously held key positions in major multinational insurance companies, as CEO of Dah Sing Life.

She will be in charge of the company’s insurance operations in Hong Kong,

 

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